I give you 10 ways to get passive income. I am currently doing it in five ways, and I plan to experiment with the rest in the coming years. Are here:
Teach online courses:
Many of you know that I have several online courses that I sell on sites like Udemy.com, Skillfeed.com or Skillshare.com. I started in October 2012, and it has been my most successful way of earning passive income. I have won tens of thousands of dollars selling courses. This money has helped pay for a car in cash, go on vacation to the Philippines, pay student loans, buy an engagement ring, get married and much more!
Sell eBooks on Amazon:
I started selling two eBooks on Amazon in October 2014. One deals with online Teaching courses and the other about starting an independent business. Since its launch, they continue to sell around 5 copies per day. An average of $ 100 extra per month is amazing!
Start a YouTube channel:
A while ago, YouTube began allowing anyone to become a partner and publish ads on their videos. I know you hate having to see ads on YouTube, but on the other side of those ads is a creator who is trying to get some extra income through his hard work. I have two channels that contribute some extra money each month: my Video School Online channel and my Cat Video channel. The cat channel video is making around $ 6 a month. It's not a huge amount, but it pays a new toy or gift for our beloved Zorah every month!
Cat YouTube channel earnings
Become an affiliate:
If you have a website that contains useful information for viewers, you can place affiliate ads on the site. When someone clicks on those links and buys something, you do a little information. For example, on my resource page, I share some of my favorite resources, including ThemeForest (where I buy web themes). I love sharing your website because I really believe in them and use them. It also helps the viewer to know who wants to build their own website. And I get a few dollars when someone clicks on that link and buys something. You can become an affiliate for most websites. Simply scroll to the bottom of the website, and there's usually a link to "affiliates" or "partners" at the bottom of the page.
Invest for retirement:
Since I was very young, I've always been smart with money. I remember being a teenager and saving money in an Etrade account and investing in General Electric. This was my first retirement account. Now, I try to save any extra money (mainly money made passively with the previous methods) in retirement accounts and other investment accounts. Now, I am not a financial advisor, so take everything you say with a grain of salt. But I think it's very important to start saving now (or as soon as possible). If you're not saving yet, it's too late. Why is this passive income? Investing is, literally, the easiest way to obtain passive income. On average, markets have increased around 7% since the beginning of the stock market. So each year, you can average about 7% of the returns. By adjusting to inflation, this may be closer to making your money grow by 3-5%. So, if you have $ 100,000 in savings, you earn an additional $ 7,000 per year. But you do not have to start there. Start with $ 100. You will earn about $ 7 in an average year. And grow from there.
The following 5 forms include:
Properties for rent
Selling Stock Photography
Creation of applications
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Video Online School:
Video credits to Phil Ebiner of Video School Online YouTube channel